An umbrella insurance policy makes provision for the excesses that other forms of liability insurance do not cover. Insurance policies cover one aspect or a combination of many aspects of the client insurance needs but the risks are not exhaustive so there is a need for a holistic policy which as the name implies provides coverage for the liability risks not covered by your policy.
The umbrella insurance policy covers liabilities that your insurance policies did not cover. It does not provide coverage for the property of the insured, but for liabilities due to damage to someone’s property or injury to them that are not covered.
As a personal liability insurance policy, umbrella insurance provides insurance coverage in excess for other insurance policies such as auto insurance, homeowners insurance, and car insurance especially when they reach their limits.
It is holistic to include all other liabilities that insurance policies do not cover. It provides extra liability protection.
Liability insurance covers injuries to other persons but that is dependent on the policy coverage. When the policy has reached its limit, it is the umbrella insurance that offers policy protection. This coverage includes the medical expenses incurred as a result of the bodily injury.
Umbrella insurance also protects against the financial implications of legal issues when the insured is sued in areas that his liability policy does not cover.
At ESi you can get the umbrella insurance policy to protect you when your policy coverage is limited. Contact us to get started.